Twitter released its Q4 earnings report early this morning and for the first time ever the company is turning a profit. Despite failing to increase its total monthly user base in the period, the social network’s financial results handily beat Wall Street expectations. The company posted fourth quarter revenue of $732 million, up 2% year-over-year.
Video has been a key focus for Twitter over the past couple years and in Q4 it remained the company’s largest ad format growing as a percent of total revenue. During Q4, the company announced approximately 22 new live-streaming, highlight, and VOD partnerships, including nine international deals. In total, it streamed approximately 1,140 live events with 60% of those reaching a global audience.
One partner that launched in the quarter was TicToc by Bloomberg, a 24-hour live business-news channel, which has averaged 750,000 daily views since its launch in December. Additionally, Fox partnered with the company to stream select episodes, and other related content, from its Fall slate on the social network before its TV debut.
According to the company, it will continue to tap into new channels of demand, such as online video. It will also continue to introduce new ways to buy ads on Twitter, including alpha testing of programmatic buying.